All Articles Tagged - EURUSD

Market Comment – Dollar under pressure ahead of the US CPI release

Posted on May 15, 2024 at 8:08 am GMT

Countdown to US CPI report is almost over Increased risk of an upside surprise after strong PPI US dollar on the back foot today as equities in waiting mode China prepares to go all in to save the housing sector Dollar remains on the back foot The countdown to the 12:30 GMT release of the April US CPI report is almost over. Market forecasts point to a monthly change of 0.4% for the headline CPI, pushing the annual growth rate [..]

Higher euro/dollar volatility ahead of US CPI report – Volatility Watch

Posted on May 14, 2024 at 2:25 pm GMT

Euro/dollar enjoys strong volatility ahead of key data releases Gold and silver see higher volatility amidst muted price rally Volatility drops in US equities as risk appetite returns Euro/dollar volatility has jumped higher as the market is preparing for some key US data prints. On the flip side, volatility in yen crosses remains moderate after the recent Japanese interventions, with market participants trying to avoid further provoking the BoJ at this stage. Volatility in the commodities space remains mixed. Oil price [..]

Technical Analysis – EURUSD stands marginally above downtrend line

Posted on May 14, 2024 at 1:02 pm GMT

EURUSD rises above 50- and 200-day SMAs Stochastic moves towards overbought area EURUSD is surpassing the 50- and the 200-day simple moving averages (SMAs) as well as standing above the medium-term descending trend line but needs some additional boost to endorse the outlook that a bullish tendency may start. According to technical oscillators, the RSI is moving marginally higher above the 50 territory, while the stochastic is approaching the overbought area. If the market rises above the 1.0814 barrier, the pair could probably [..]

Market Comment – Range trading continues as markets prepare for Wednesday’s CPI

Posted on May 14, 2024 at 8:30 am GMT

Dollar recovers somewhat while US stocks’ rally stalls PPI and Fed Chairman Powell could wake up the market later today Mixed UK labour data complicate the BoE’s outlook Dollar recovers but still in the red during May Range trading continues in most currency pairs as the market is in waiting mode for tomorrow’s crucial US inflation report. The US dollar managed to reverse yesterday’s initial underperformance against the euro with the pair now hovering below the 1.08 level and facing some key [..]

Weekly Technical Outlook – EURUSD, GBPUSD, AUDUSD

Posted on May 13, 2024 at 8:45 am GMT

US CPI report may show the next direction of EURUSD UK employment data may take GBPUSD down Is Australia labour report strong enough to take AUDUSD out of trading range? US CPI data –> EURUSD During the previous week’s meeting, the Federal Reserve displayed a less aggressive stance than anticipated, as Chair Powell explicitly stated that there would be no increases in interest rates and suggested that they are still inclined towards reducing rates. Traders will focus on the US [..]

Could Wednesday’s CPI report change the Fed’s rate outlook? – Preview

Posted on May 13, 2024 at 8:20 am GMT

US CPI inflation forecast to have eased a bit in April Retail sales to reveal the domestic demand’s strength Dollar might benefit from a strong inflation print but stocks could suffer The April CPI report will be released on Wednesday 12:30 GMT The aggressive deceleration in US inflation seen during 2022 has paused over the past few months with CPI proving stickier than widely expected. As a result, the market is now expecting just 42bps of monetary policy easing by [..]

Market Comment – Investors cautious as spotlight falls on US inflation

Posted on May 13, 2024 at 8:12 am GMT

Dollar gains slightly on hawkish Fed remarks Investors scale back their Fed rate cut bets China’s CPI rises for the third straight month US stocks stay supported despite rebound in yields Dollar bolstered by Fed, inflation expectations The US dollar traded slightly higher against most of its major peers on Friday, while it started the new week on a cautious note, with traders perhaps reluctant to assume large positions ahead of Wednesday’s CPI inflation numbers. After a less hawkish-than-expected [..]

Technical Analysis – EURUSD retests 200-day SMA near downtrend line

Posted on May 10, 2024 at 12:14 pm GMT

EURUSD remains beneath diagonal line RSI move horizontally; stochastic suggest upward move EURUSD is testing again the 50- and the 200-day simple moving averages (SMAs), which are standing slightly beneath the long-term descending trend line. Technically, the oscillators are mirroring the latest neutral-to-bullish bias in the market, as the RSI is standing above the 50 level but is moving sideways, while the stochastic is creating a bullish crossover beneath the overbought area. If the buying interest persists and the pair stretches to the [..]

Market Comment – Dollar slides, gold shines after soft US labor market data

Posted on May 10, 2024 at 8:23 am GMT

Dollar drops as jobless claims signal labor market is losing steam Gold and stock markets climb, capitalizing on Fed rate cut bets Sterling retreats on BoE decision, but recovers after GDP stats Softer US jobs data fuels rate cut hopes Global markets are set to close the trading week in a cheerful mood after another round of incoming US employment data pointed to an ongoing softening in the labor market, fueling hopes that the Fed might cut interest rates sooner [..]

Midweek Technical Look – EURUSD, Gold, US 500

Posted on May 9, 2024 at 9:30 am GMT

EURUSD declines further after pullback off 200-day SMA Gold moves sideways within short-term SMAs; broader outlook is still bullish US 500 loses steam but successfully surpassed SMAs [..]

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